The Brazilian real rose to its highest level since last June on Thursday after central bank policymakers kept interest rates unchanged and expressed concern over the prospect of higher inflation, driven by tensions with Luiz Inacio Lula da Silva's government.
Monetary policymakers kept the benchmark Selic rate at 13.75% for the fourth straight time on Wednesday, as expected.
However, the statement was widely seen as restrictive in tone, as policymakers indicated that they would analyze whether holding rates steady "for longer" than expected would slow inflation to the proposed level.
"The prevailing situation, especially with uncertainty on the . . .
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